Foreign Exchange Management (Insurance) (Amendment) Regulations, 2003

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....3 Published in the Official Gazette of Government of India - Extraordinary - Part-II, Section 3, Sub-Section (i) dated 07.01.2004 - G.S.R. No. 10(E) In exercise of the powers conferred by sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999, (42 of 1999), and in partial modification of its Notification No.FEMA.12/2000-RB, dated May 3, 2000, as amended from time to time,....

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....hat, the policy is held, under a specific or general permission of the Central Government. ii) A person resident in India may continue to hold any general insurance policy issued by an insurer outside India when such person was resident outside India. Provided further that where the premium due on a general insurance policy has been paid by making remittance from India, the policy holder sha....